Mumbai: The rupee on Thursday closed marginally lower against the US dollar ahead of swearing-in ceremony of Narendra Modi as Prime Minister for a second term. Traders will keenly watch key ministries allotted to various leaders of the party and allies.
The rupee ended at 69.88 a dollar, up 0.06%, from its previous close of 69.83. The Indian had currency opened at 69.71 a dollar.
The Sensex ended up 0.84% at 39,831.97. Year-to-date, the index has risen 10%.
The 10-year bond yield stood at 7.136%, compared with Wednesday's close of 7.126%.
So far this year, the rupee has risen 0.1% against the US greenback. During the period, foreign investors bought $10.77 billion in Indian equities and sold $18.70 million in debt market.
Other Asian currencies also traded higher even as markets assessed the impact of persistent trade conflicts. The South Korean won was up 0.36%, Philippines peso 0.27%, Singapore dollar 0.12%, Thai Baht 0.07%, China Offshore 0.07%. However, Indonesian rupiah was down 0.24%, while Malaysian ringgit fell 0.08%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.121, down 0.02%, from its previous close of 98.144.
Bloomberg contributed this story